Quantum Foods: Directors’ Share Moves & Compliance

  • Phantom Share Rights Exercise: Executive directors exercised PSRs, delivering significant shares with varying strike prices, reflecting the plan's terms.
  • Change in Director's Holdings: Director Roelof Viljoen transferred shares, shifting from direct to indirect beneficial interest in an off-market transaction.
  • Compliance and Clearance: All transactions adhered to JSE Limited Listings Requirements, ensuring regulatory compliance and transparency in dealings.
Quantum Foods Holdings Profits Decline for year 2023

In a recent development a notable player in the South African market, has announced significant transactions involving the company’s executive directors and a director of a major subsidiary. These dealings include the exercise of Phantom Share Rights (PSRs) and a notable shift in the nature of director’s holdings.

Phantom Share Rights Exercise

Three of Quantum Foods’ executive directors participated in the exercise of Phantom Share Rights, issued as part of the Quantum Foods Holdings Limited Equity Settled Phantom Share Plan. These PSRs were originally issued on different dates in 2018, 2019, and 2020, with their vesting dates falling on February 22, 2023; February 11, 2023; and February 17, 2023, respectively. The exercise took place on September 6, 2023, and was carried out off-market.

The table below summarizes the details of these transactions:

DirectorNumber of Ordinary Shares DeliveredPrice per Ordinary Share (R)Total Value of Shares Delivered (R)Strike Price of PSRs (R)
Hendrik A. Lourens119,9664.8577582,758.843.906
André H. Muller34,7514.8577168,809.934.245
Roelof Viljoen26,7714.8577130,045.493.565

Notably, these exercises represent a significant value of shares, with Hendrik A. Lourens, André H. Muller, and Roelof Viljoen delivering shares worth R582,758.84, R168,809.93, and R130,045.49, respectively. The strike prices of the Phantom Share Rights varied, reflecting the terms of their issuance.

Change in Nature of Director’s Holdings

Additionally, Roelof Viljoen, who serves as a director of Quantum Foods’ major subsidiary, Quantum Foods Proprietary Limited, underwent a change in the nature of his holdings. Specifically, he transferred 30,285 Ordinary Shares to Grain 4 Investments Proprietary Limited, a company of which he is the sole shareholder and director. This off-market transaction took place on September 7, 2023, with each share being priced at R4.850.

The value of the transferred shares amounted to R146,882.25, and this transfer marked a shift from a direct beneficial interest to an indirect beneficial interest for Mr. Viljoen.

Clearance and Compliance

In accordance with the Listings Requirements of the JSE Limited, clearance was given for all these transactions under paragraph 3.66. This ensures that these dealings were carried out in compliance with the relevant regulations.

These transactions highlight the active involvement of Quantum Foods’ executive directors in the company’s share plan, as well as the strategic shifts in the nature of director’s holdings. Such actions provide valuable insights into the company’s leadership and their confidence in its future performance. Shareholders and market observers will likely monitor these developments closely as Quantum Foods continues its operations in the South African market.

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